NEW YORK — Legal U.S. marijuana sales reached $5.4 billion for 2015, which represents an increase of 17.4 percent from the $4.6 billion in 2014 according to ArcView Market Research.
This year, even a bigger jump in sales is expected. As a result, more companies across the entire industry are trying their luck. What is more surprising is just how diverse the Cannabis industry is becoming. Freedom Leaf Inc. (OTC: FRLF), Medical Marijuana Inc (OTC: MJNA), Terra Tech Corp (OTCQX: TRTC), Cara Therapeutics Inc. (NASDAQ: CARA), Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE)
As both medical and recreational marijuana, which is now available in four states, are becoming more mainstream, we are starting to see different sectors within the industry building up. In agriculture for example, companies like Terra Tech Corp (OTC: TRTC) attract attention. Terra Tech is a cannabis-focused agriculture company, which uses innovative technology to grow the plant to create sustainable solutions for medical cannabis production, extraction and distribution, plant science research and development.
In media, Freedom Leaf Inc. (OTC: FRLF) is one of the leading go-to resources in the cannabis, medical marijuana, and industrial hemp industry. The Freedom Leaf magazine has published and circulated hundreds of thousands of copies of its nine editions in around 30 states, and it provides activists, consumers, patients and entrepreneurs with marijuana-related information, innovations and legislation. The Company provides clients with two main services: advertising in its magazine, website and e-mail blasts, as well as branding and marketing services in order to aid companies in its industry to develop their brand or to sell their products.
Freedom Leaf Inc. just announced that it’s developing Lady Cannabis™ as one of the first beauty product lines offering 100% grown-in-the USA Hemp High Cannabidiol, CBD. Lady Cannabis™ Divinely Designed Hemp Inspired™ will sell a unique, premium High CBD extract to promote health, beauty and well-being. “The name, Lady Cannabis was conceived for plant-based products from Mother Nature,” said Freedom Leaf, Inc. CEO, Cliff Perry. “Freedom Leaf CBD-infused products will be manufactured under strict certified production laboratory facilities labeled with batch, lot number and expiration controls.” This approach will give the Lady Cannabis™ product line a strong competitive advantage as it reaches out directly to consumers through LadyCannabis.com and word of mouth sales.
Freedom Leaf Inc. continued to mention that he USA grown High CBD that Freedom Leaf has identified for its Lady Cannabis™ line is required to go through the highest levels of testing for a nutraceutical ingredient. Cannabidiol (CBD) is a legal compound in the hemp plant that has shown to offer beneficial medical effects including antioxidant and anti-inflammatory properties to the body without the psychoactive effects associated with Tetrahydrocannabinol (THC).
In the medical cannabis field, there are companies like Medical Marijuana Inc. (OTC: MJNA), which products range from cannabinoid-based products, to whole plant or isolated high value extracts manufactured and formulated for the pharmaceutical, nutraceutical and cosmeceutical industries. The Company provides several services including medical clinic management, and the capitalization and development of cannabis and hemp industries business.
The sector that has been in the center of attention most of all is cannabis based pharmaceuticals. Companies like Cara Therapeutics Inc. (NASDAQ: CARA) and Zynerba Pharmaceuticals Inc. (NASDAQ: ZYNE). Cara is more focused on cannabinoid receptors and developing lead molecules which can be used for therapeutic purposes, treating neuropathic pain. Zynerba has been focusing on its main product candidate, the CBD Gel – ZYN002, which is a non-psychoactive cannabinoid that is currently undergoing phase 2 studies for patients who suffer from refractory epilepsy.
The legal marijuana market in the United States is expected to grow to $7.1 billion in 2016, a 26% growth comparing to 2015 according to ArcView Market Research.
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